Mid-infrared spectra of whey and casein hydrolysates were recorded using Fourier transform infrared (FTIR) spectroscopy. Multivariate data analysis techniques were used to investigate the capacity of FTIR spectra to classify hydrolysates and to study the ability of the spectra to predict bitterness, solubility, emulsifying, and foaming properties of hydrolysates. Principal component analysis revealed that hydrolysates prepared from different protein sources or with different classes of proteolytic enzymes are distinguished effectively on basis of their FTIR spectra. Moreover, multivariate regression analysis showed satisfactory to good prediction of functional parameters; the coefficient of determination (R(2)) varied from 0.60 to 0.92. The accurate prediction of bitterness and emulsion forming ability of hydrolysates by using only one uncomplicated and rapid analytical method has not been reported before. FTIR spectra in combination with multivariate data analysis proved to be valuable in protein hydrolysate fingerprinting and can be used as an alternative for laborious functionality measurements.